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EGBs/Gilts: It has been a relatively...>

BOND SUMMARY
BOND SUMMARY: EGBs/Gilts: It has been a relatively quiet morning for EGBs. PMI
data was largely shrugged off. Next up on the data calendar will be US durables
and factory goods orders.
- The bund curve has bear steepened with the 2s30s up 2bp.
- French OATs trade broadly unch, albeit with some selling pressure at the
longer end. Current yield levels: 2-year -0.615%, 5-year -0.421%, 10-year
-0.061%, 30-year 0.7695%.
- UK government spokesman James Slack has stated that PM Johnson will not extend
the Brexit extension period and that the UK will get a good trade deal with the
EU by end-2020.
- Gilts have recovered from the early-morning sell off with yields still higher
on the day. Current yield levels: 2-year 0.522%, 5-year 0.4695%, 10-year 0.683%,
30-year 1.192%

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